Sharjah Media City (Shams) Free Zone
Shams Free zone or Sharjah Media City is one of the newly launched free zones in the Sharjah Emirate in the first quarter of 2017. Shams Free zone is located in the Emirate of Sharjah, and Sharjah is servicing business, tourism, and brilliant individuals with world-class infrastructure. It is a hub for innovation in Media and the digital world and also a very economical option. A company in SHAMS free zone can be established from just AED 5,750
Shams free zone allows the youngest age of the company shareholders you can own a business starting from the age of 19. This is a great benefit not available in any other Free Zones. Company employees can be as young as 18 years old, which is also quite unusual in comparison to other Free Zones. All the documents of the companies are electronic you can print them out anywhere and may not worry about losing the originals. The documents can be always verified through the SHAMS website to make sure they are authentic.
Shams Free Zone Company Setup
Shams Free zone is providing almost all those services which are normally available in all other UAE free zones. They are offering the best license and business activities which is very interesting to those individuals who are going to start their business in the Free zone.
Types of companies in Shams Free Zone
Basically, there are two types of companies allowed to be established in the Shams Free Zone.
- Shams LLC Company Formation
- Shams Branch Company Setup
Licenses Offered by Shams Free Zone
Four licenses are available in the Shams Free Zone, with the option to invest in trading, service, industrial or holding license, depending on the requirements of the business.
Service License: It allows for production, re-production, transformation, and distribution of services. Service license includes rendering services as a primary objective and utilizing goods to provide them.
Industrial License: It allows for production, re-production, transformation, and manufacturing of goods. You could open the business which is involved in the production, re-production, transformation, and manufacturing of goods.
Trading License: It allows selling goods within Shams or importing and exporting goods. It includes the movement of goods, wholesale and retail sale of goods, and rendering of services related to the sale of these goods. Wholesaling and retailing are the final steps in the distribution of goods.
Holding License: It allows holding standalone assets and/or stakes in other companies. You would require a holding company for the purpose of controlling other companies (i.e.), property such as real estate, patents, trademarks, stock, and other assets.
Advantages of SHAMS Free Zone Company
- 100% exemption from tax and duties & foreign ownership, no restriction on repatriation of capital, free transfer of funds
- The physical presence of the company owner is not required for registration of a company in Shams free zone
- The whole procedure is quick and simple thanks to the utilization of the latest technology
- Exclusive advantages available for the formation of media and related industries
- SHAMS free zone is one of the most cost-effective free zones in the UAE.
- Documentation process can be completed in just two days
- No need for the annual audit and paid-up share capital
- Hiring foreign employees is allowed
- Allows opening of corporate bank account
Documents Required for Company Setup in SHAMS
For Sharjah media free zone company setup, the entrepreneur requires submitting a set of documents to the concerned authorities. Any discrepancy in documents will lead to delays and additional expenses.
|Documents||LLC (Individual shareholder)||LLC (Corporate Shareholder)||Branch|
|Certificate of Incorporation||Not Required||Required||Required|
|Memorandum & Articles of association||Not Required||Required||Required|
|Board resolution to establish a new company||Not Required||Required||Not required|
|Board resolution to establish a new branch||Not Required||Required||Not Required|
|Certificate of good standing, valid trade license||Not Required||Required||Required|
|Board resolution giving signatory authorization or Power of attorney for the third party||Required||Required||Required|
Requirements of Setting up a Company in SHAMS
- All documents must be attested and approved from relevant authorities
- Branch Company has to produce documents of its parent company
- There are various departments for business formation and approval from all these departments is necessary
- Companies related to media industry are preferred but other businesses are also allowed to establish
There are a variety of steps that need to be taken, some complicated, some less intricate. Usually, the first thing you have to do is select your business practice. From here, you will need to agree on your company name, finalize, and send your registration documents to the competent authorities, open a bank account, and apply for any visas that may be necessary.
However, the details of this procedure will depend on the type of license you apply for and the type of company you choose to run. That’s why, before beginning any of these procedures, the first port of call should always be a company set-up specialist who can direct you through any aspect of the process, ultimately ensuring the entire application requires little more than a few hours of your time.
Why Riz & Mona
- We provide comprehensive services for company establishment in Shams Free Zone
- Due to our wide experience, we are completely aware of all the procedure for approval from relevant authorities
- We will assist companies in accomplishing all types of legal tasks during and after registration of company
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